Citigroup Forecasts Strong Price Appreciation for Honeywell International (NASDAQ:HON) Stock

Honeywell International (NASDAQ:HON) had its target price hoisted by Citigroup from $242.00 to $265.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Honeywell International from $182.00 to $217.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Morgan Stanley boosted their target price on shares of Honeywell International from $210.00 to $217.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Barclays dropped their target price on shares of Honeywell International from $247.00 to $243.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price target on shares of Honeywell International from $205.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Finally, Mizuho increased their price objective on shares of Honeywell International from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Honeywell International has an average rating of “Moderate Buy” and a consensus target price of $248.14.

Honeywell International Trading Up 0.9%

NASDAQ HON opened at $228.78 on Wednesday. The company’s fifty day moving average price is $210.44 and its two-hundred day moving average price is $216.22. The company has a market capitalization of $147.03 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. Honeywell International has a 12 month low of $179.36 and a 12 month high of $242.77. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.31 and a quick ratio of 1.01.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 EPS for the quarter, topping the consensus estimate of $2.21 by $0.30. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.25 earnings per share. As a group, research analysts predict that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.98%. Honeywell International’s dividend payout ratio (DPR) is presently 51.95%.

Hedge Funds Weigh In On Honeywell International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HON. Mainstream Capital Management LLC bought a new position in shares of Honeywell International in the fourth quarter worth $25,000. Avalon Trust Co lifted its holdings in Honeywell International by 166.7% in the fourth quarter. Avalon Trust Co now owns 120 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 75 shares during the period. Mpwm Advisory Solutions LLC bought a new position in Honeywell International in the 4th quarter valued at about $29,000. Pandora Wealth Inc. acquired a new position in Honeywell International during the 1st quarter valued at about $33,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of Honeywell International during the 4th quarter worth about $34,000. 75.91% of the stock is owned by institutional investors.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.